Las Olas Press Release

Las Olas presents a tranquil escape to Panamanians and Foreigners to enjoy one of the most stunning beaches in Panama. The sound of the magnificent waves crashing, the call of the birds inhabiting the nature preserve, the opportunity to ride horseback on the beach and natural beauty beyond compare all come within minutes of David…and for a reasonable price. This is where your dream of owning a piece of oceanfront can become a reality.

Playa La Barqueta is the longest beach in Panama. In this paradise you will find unparalleled infrastructure. 50 existing oceanfront homes, a 48 room beach resort, and an existing 42 unit condominium line the beach. A first class water treatment facility, fiber optic internet, security, 3 tennis courts under construction and golf course planning well underway add significant value to a dream that has already become a reality.

The next project at Las Olas is now taking preconstruction contracts for its masterpiece, Condominio Estrella del Mar. Featuring 68 units, 16 poolside cabanas, a resort style pool, it is truly paradise by the sea. Each unit features uninterrupted views of the Pacific, three bedrooms, two bathrooms, stainless steel appliances, granite countertops, balconies, central a/c, appliances, and luxurious finishes throughout, all for a pre-construction price of $250,000. One can have a haven here only minutes from the David International Airport and enjoy the infrastructure and amenities already existing without having to invest a fortune. But now is a good time to invest considering that the next phase of the development is ready to launch.

As a center piece of the development will be a championship par 72 golf course surrounded by houses of various sizes, condominiums, townhomes and single family lots. Adjacent to a nature preserve, one can live and enjoy the tranquility of Chiriqui while still benefitting from unparalleled infrastructure and amenities.

The master plan design strategy was a collaboration over a 2 year period between Property Owners, Development Team, Master Planners, Golf Course Architect, Engineers, Architect, Environmental Scientists, and Surveyors where the overriding objective is to develop the site while maintaining the natural attributes and beauty of the area.

The property has been in the owner’s family for generations. Their insistence that the surroundings be respected and that sound stewardship of the property are held as the highest priority.

The following is a brief overview of the elements that comprise the golf course phase of the development.

• GOLF COURSE – A signature course is planned as the focal point of the development. The course is a links style course. It’s primarily located on former agricultural land. The course is also arranged to take advantage of the existing waterway and natural drainage patterns. The clubhouse areas are centrally located to encourage pedestrian activity to the facilities.

• LAKES – The lakes are situated in lower areas and are interconnected by waterways or culverts. The lakes are both visually appealing and provide an engineering function in regard to storm water treatment and management. The placement and size of the lakes are designed to accommodate site hydrology and provide irrigation options for the golf course and park areas.

• WATERWAYS – Much of the existing waterways are planned to be maintained or enhanced. This is an effort to maintain hydrologic conditions within the preservation areas, assist in storm water management, and equalize lake levels.

• ROADS – The roads are planned as private roads with a cross section width of 12.8 meters and 15 meters. The roads are situated on ridge lines or elevated areas where possible. The road system essentially frames the golf course and provides the opportunity to achieve a generous area to accommodate a championship golf course. The road system also avoids environmentally sensitive areas and is situated to provide the opportunity to locate the majority of homesites on an amenity.

• PARKS – The park areas are dispersed throughout the development and are all connected by a sidewalk system. The parks will accommodate a combination of passive areas, activity areas, pocket parks and linear park areas.

• WETLAND AREAS – The areas identified by the environmental scientists as sensitive have been given priority in the plan formulation as areas to be preserved. The layout of the plan facilitates maintaining the historic hydrology of these areas to ensure conservation.

• HOMESITES – The plan objective is to locate the majority of homesites with a view of or preferably adjacent to a project amenity, i.e., golf course, lake, park, or wetland area. The lot size was determined by research of many similar international projects and was determined at 0.1ha. This lot size will accommodate a full range of home designs while maintaining generous setbacks and adequate space to allow for private pools, gardens, spas, or other private recreational amenities. The lot size is also adequate to accommodate septic and drain field systems.

• MULTI-FAMILY TRACTS – There are three distinct multi-family components within the plan, which will provide housing diversity. These tracts are separated to encourage contrasting style and product type. Each tract is of adequate size to provide their own amenity package and offer a unique community identity.

• COMMERCIAL – the commercial component within the plan will service the needs of the community by offering community shopping areas sized properly to provide a mixture of general commercial services and convenience retail uses. The commercial areas will offer a variety of services and products to sustain this community.

• COMMUNITY SERVICE AREAS – These planned areas will accommodate the essential operational facilities for the community. These areas are strategic located in order to centralize the treatment, storage and maintenance of these services.

• WATER SERVICE – Potable water will be provided to all elements within the development by a distribution system in the road right-of-ways. The distribution system will be supplied by a community water treatment plant. The treatment facilities will be accommodated within the community service areas. The raw water wells will be developed within the development boundaries. The distribution system will also provide fire hydrants.

• WASTE WATER- The individual homesites will utilize on site disposal systems (septic and drain field). The multi-family condominiums and commercial areas will utilize a centralize package sewage treatment plant and disposal system located within a community service area. Each tract will provide a lift station and force main to the treatment plant. (See Typical Section G-1)

• ELECTRIC, PHONE & FIBER OPTIC SERVICES – These services will be provided to the homesites and development tracts utilizing underground conduits and strategically located transformers and equipment.